How did you figure out what you wanted to do after consulting?
I’m enjoying working in consulting at the moment and I believe I am growing, but I also know I want to leave this company relatively soon and move into industry.
The issue is that I’m not sure exactly what sort of work I want to do after. Most of the work I’m doing now is pretty functionally-agnostic and I don’t know how to narrow down what role I want to exit into.
Has anyone had a similar dilemma and come out of it in a role that suits them?
Based on the most helpful WSO content, your situation is a common one for consultants looking to transition into industry. Here are some actionable steps and insights to help you figure out your next move:
Choose an Industry and Stick to It
Narrowing down an industry is a critical first step. Reflect on the projects you've enjoyed most during your consulting career. Which industries or types of clients excited you the most? Once you identify an industry, commit to it and start building expertise and connections within that space.
Find Role Models
Look for individuals whose careers you admire within your target industry. Reach out to them, learn about their career paths, and understand what their day-to-day roles entail. This can help you visualize your potential trajectory and clarify what roles might suit you.
Leverage Your Consulting Skills
Consulting equips you with a versatile skill set that can be applied across various roles. Whether it's strategy, problem-solving, or stakeholder management, identify which of these skills you enjoy using the most and seek roles that emphasize them.
Explore Exit Opportunities
Consulting offers a wide range of exit options. Popular paths include corporate strategy, venture capital, private equity, or senior analyst/manager roles at Fortune 500 companies. If you're unsure, consider roles that align with your consulting experience but allow you to specialize further.
Experiment and Build Your Profile
If you're leaning toward a specific role but lack direct experience, start building relevant skills on the side. For example, if you're interested in venture capital, focus on developing technical skills and gaining exposure to investment-related work.
Take Advantage of Your Network
Your consulting network is a goldmine. Speak with colleagues, mentors, and alumni who have transitioned into industry roles. Their insights can help you identify opportunities and avoid potential pitfalls.
Be Open to Iteration
It's okay if your first role post-consulting isn't a perfect fit. Many professionals reinvent their careers multiple times. Use each step as a learning opportunity to refine your goals and preferences.
By following these steps, you can systematically narrow down your options and transition into a role that aligns with your interests and long-term aspirations.
Sources: Q&A: I grew up in Consulting and reinvented my brand 3 times, Consulting Exit Opps for Introverts, 5 most important things I learned when exiting consulting, Why Would Anyone Go Into Consulting?
I'll bite.
When looking at what to exit to from consulting, you want to draw an x axis which is your functional expertise and y axis which is your domain expertise from general to specific/granular.
And then from there, start vetting various pathways by speaking to folks internally within your firm or externally within client or other organizations you may be interested in. I'll give a few examples to share how this works.
Say you've done ~1.5 years of consulting as a generalist in the CPG and Fin Service space, one pathway may be to focus product management functions within Neo banks. The functional expertise is then defined as being a technology product manager and domain expertise is by knowledge of operational and technological landscape of depth American Neo banks. This could then be pursued internally under the SME pathway or specialization route or externally as a product manager at a client Neo Bank where you understand the firm's structure, roadmap and priorities.
As another example, you may even consider the research or knowledge management pathway within your respective consulting firm. The main benefit: decent hours, exposure to the latest trends and developments from a client agnostic role, relatively close to the consulting or SME route if you want to rotate in the future. An example would be Oliver Wyman's Forum that publishes the latest Insight whitepapers into their coverage areas.
The functional scope is vast and could include: commercial and GTM strategy, Product strategy and product management, supply chain logistics, data science functions or capabilities, COO functions (like chief of staff) , CFO functions (such as FP&A, corp dev, or strategic finance) and many, many others. The domain scope can be broad such as fin services or very narrow such as Series A or B WealthTech firms specialized in GIPS alignment capabilities.
All this also pauses other prof service work such as VC, PE, or another consulting firm. Which opens another layer to the exit.
All in all, see what you've done, see what you enjoyed and see whats out there.
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